A report by Redfin found that home-buyer demand declined in August. According to the Real Time Demand Pulse, the number of home tours requested by Redfin customers declined 10 percent month-over-month in August and 6 percent compared with the previous year. Week-over-week, tours declined 9.5 percent.

Offers to purchase homes made by Redfin customers also declined in August, falling 7.5 percent compared with July and 4.3…